MVEDA surpasses economic development goals for county

With a mission to “grow the wealth of Doña Ana County through the creation of economic-based job opportunities for its residents,” the Mesilla Valley Economic Development Alliance has met or exceeded all but one of its year-to-date targets, long-time MVEDA President and CEO Davin Lopez told MVEDA’s Aug. Business in the NMBorderplex Forum hosted by the nonprofit at Hotel Encanto.

From the MVEDA FY22-23 dashboard through June 30, 2023:

• Capital investment: The goal was $45 million. MVEDA reached more than $420 million, which is 934.7 percent of its goal;
• Payroll generated: The target was $28 million. MVEDA reached almost $49 million, or 174.6 percent (the average wage paid is $25.25; $17.20 is the median county average);
• Jobs created: The target was 900, the actual was 931, or 103.4 percent;
• Qualified prospects: The target was 64, MVEDA reached 84, 129.2 percent;
• Retention and expansion: The target was 55, the actual total was 60, or 109.1 percent of the goal;
• Completed projects: The target was 10, which was also the actual;
• Site visits: The goal was 30, the year-to-date total is 25, or 83.3 percent.

Here is MVEDA’s 2022-23 list of companies that either located to the region, added jobs and/or added capital investments.

• Electronic Caregiver: 770 jobs, $17.5 million capital investment;
• Worthington Farms: eight jobs, $500,000;
• Aries Worldwide Logistics: 20 jobs, $1.5 million;
• EDF Renewables: six jobs, $299 million;
• GaleHead Development: two jobs, $50 million;
• Diamond Onion: 55 jobs, $26.6 million;
• Palladium Diagnostics: 36 jobs, $570,000;
• The Fresh Chile Company: $20,000;
• Trust Waste: 14 jobs, $85,000;
• Louisiana Pepper Exchange: 20 jobs, $24.3 million.

Economic impact over five years (net new predicted tax base):

• Local: $13.53 million
• State: $20.12 million
• Doña Ana County school districts: $9.4 million
• Doña Ana Community College: $1.24 million
• Five-year household spending: $121.1 million

Since FY2018-19, MVEDA has helped create almost 4,400 jobs in the county and has generated more than $870 million in capital investment, Lopez said.

 MVEDA has an operating budget of $1.165 million, including funding from the City of Las Cruces, Doña Ana County and private-sector partners.

Visit www.mveda.com.